)
PSRS’s Tony Messiah and Garrett Carter arranged $25M in permanent refinancing for Yamashiro Mountain, a nearly 63K SF mixed-use hilltop estate in Hollywood. The property includes the Yamashiro restaurant, the adjacent Yamashisha Lounge, the Hollywood Hills Hotel and an on-site apartment building.
In addition to underwriting multiple operating asset classes in a single collateral pool to meet institutional underwriting requirements, the transaction involved complex partnership buyouts that required a customized financing structure to satisfy all parties. Financing was secured through one of PSRS's correspondent life insurance companies with a 31% loan-to-value ratio, a five-year term and a 25-year amortization.
PEOPLE
Geoffrey C. Arrobio joined Way Capital as an executive director. Arrobio has 30 years of commercial real estate finance experience. In his role at Way Capital, his duties will include originating commercial real estate debt and equity for project sponsors, including construction, permanent and joint venture equity structures across all asset classes. Previously, Arrobio served as first vice president for Matthews Real Estate Investment Services.
SALES
Blackstone’s LivCor sold an apartment complex on the border of Westlake and Koreatown to Post Investment Group for $60M, or $198K per unit, Multi-Housing News reported.
The sale price is a 33% discount from the $90M LivCor paid for the property, the 302-unit Violet on Virgil at 160 S. Virgil Ave., in 2018.
***
CBRE facilitated the $12.5M sale of Encino Crossing II, a 50K SF office building at 6345 Balboa Blvd. in Encino, to an undisclosed owner-user.
The three-story office building was built in 1988 and renovated in 2021. It features surface and underground parking, on-site food service and electric vehicle charging stations. The asset was approximately 62% leased at the time of sale.
CBRE’s Mark Shaffer, Anthony DeLorenzo, Grant Goldman and Sean Sullivan represented the seller, Harbor Associates.
LEASES
Applied Atomics, a privately held nuclear energy company that develops, builds and operates small modular reactor power plants for commercial and industrial applications, has leased almost 20K SF of creative office space in the Arts District for its executive offices.
CBRE announced the lease but did not disclose the address. CBRE's Chris Taverner and Taylor Watson represented Applied Atomics in the lease.
***
The Los Angeles Area Chamber of Commerce formalized a long-term lease for roughly 11K SF on the 32nd floor of Silverstein Properties’ U.S. Bank Tower in Downtown LA. The chamber anticipates relocating to its new offices in mid-2027. A representative for the organization said the move to the U.S. Bank Tower was an investment in Downtown Los Angeles and one that puts the chamber “at the center of the work ahead.”
FINANCING
Alta West has secured $49.75M in bridge financing for Lakeview Innovation Center, an approximately 275K SF, 100% leased research and development and office campus in Thousand Oaks.
JLL’s Capital Markets worked exclusively on behalf of sponsor Alta West to secure the three-year, floating-rate financing with Forbright Bank.
JLL's Capital Markets Debt Advisory team included Jeff Sause, Josh Blank, Marc Schillinger and Alex Olson.
THIS AND THAT
Brighthaven Communities, the third-party property management company formed in 2025 as a joint venture by Avanath Capital Management and Bridge Housing Corp., has surpassed 235 regulated affordable and workforce housing communities under management in its first year.
Over the past 12 months, Brighthaven has brought together both organizations' portfolios under a single operating platform. The company now manages 236 properties with nearly 31,000 apartments and more than 900 employees nationwide.
)
)
)
)
)
)
)
)
)
)
)
)